Cubist Systematic Strategies LLC Lowers Position in Methode Electronics, Inc. (NYSE:MEI)

Cubist Systematic Strategies LLC reduced its stake in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) by 34.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,463 shares of the electronics maker's stock after selling 133,878 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.71% of Methode Electronics worth $3,000,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Barclays PLC grew its position in Methode Electronics by 112.3% during the 3rd quarter. Barclays PLC now owns 127,917 shares of the electronics maker's stock worth $1,530,000 after purchasing an additional 67,656 shares during the last quarter. Diversified Trust Co purchased a new position in Methode Electronics during the 4th quarter worth $126,000. SG Americas Securities LLC purchased a new position in Methode Electronics during the 4th quarter worth $209,000. Kingsview Wealth Management LLC purchased a new position in Methode Electronics during the 4th quarter worth $3,678,000. Finally, Empowered Funds LLC grew its position in Methode Electronics by 5.1% during the 4th quarter. Empowered Funds LLC now owns 117,481 shares of the electronics maker's stock worth $1,385,000 after purchasing an additional 5,677 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Methode Electronics Stock Performance

Shares of NYSE:MEI traded up $0.01 during midday trading on Friday, hitting $7.54. The stock had a trading volume of 56,657 shares, compared to its average volume of 490,764. The company has a market capitalization of $269.15 million, a PE ratio of -2.98 and a beta of 0.88. The stock has a 50 day moving average price of $6.37 and a two-hundred day moving average price of $9.40. The company has a current ratio of 2.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.46. Methode Electronics, Inc. has a 1 year low of $5.08 and a 1 year high of $17.45.

Methode Electronics (NYSE:MEI - Get Free Report) last issued its earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.04). The firm had revenue of $239.90 million during the quarter, compared to analysts' expectations of $264.01 million. Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. During the same period in the previous year, the firm earned ($0.33) EPS. As a group, equities analysts predict that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, April 18th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 7.43%. The ex-dividend date of this dividend was Thursday, April 17th. Methode Electronics's dividend payout ratio (DPR) is -21.46%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MEI shares. Robert W. Baird lowered their price objective on shares of Methode Electronics from $9.00 to $7.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Sidoti raised shares of Methode Electronics from a "neutral" rating to a "buy" rating and set a $14.00 target price on the stock in a report on Tuesday, February 25th.

Insider Activity at Methode Electronics

In other Methode Electronics news, CEO Jonathan B. Degaynor bought 32,733 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $6.46 per share, for a total transaction of $211,455.18. Following the completion of the transaction, the chief executive officer now owns 32,733 shares in the company, valued at approximately $211,455.18. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Lars Ullrich acquired 15,150 shares of the business's stock in a transaction dated Friday, March 14th. The stock was purchased at an average cost of $6.69 per share, with a total value of $101,353.50. Following the transaction, the senior vice president now owns 15,150 shares of the company's stock, valued at approximately $101,353.50. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company's stock.

Methode Electronics Profile

Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.